The method selecting successor
Wallenberg family is known as the 14 major companies-owning family, which is taking possession 40% of total amount of market price in swedish stock market and 30% of GDP. The family has inherited their management rights for 150 years.
The management philosophy is 'We are family company, we have to preserve our management forever, but just in case person who is suitable for management exist.
The method selecting successor of Wallenberg is proving one's capacity
First, graduating prestigious university on their own capacity
Second, improving their mental power by entrancing the naval academy.
Third, going out into a global financial center without parents' help.
Finally, accumulating experiences in business and recognizing the international finance flow.
This principle will take over 10 years and have not changed for 150 years. According to this principle, two successor are selected. For checks and balances, Leaders are always two.
And there are another principles that the successors have to observe.
The laborers are management-partner.
- The successors always have to appoint a rabor union representative.
The company's foundation of existence is society.
- The successors always have to return 85% of profit to society.
And the successors always have to invest a public works project including universities, libraries, museums and so on.
Although the family have a massive power, The successors have never been recorded in the list of the top 1,000 rich people in the world.
Finally, there is a famous saying related with Wallenberg.
- "Exist, not Expose."
The method selecting successor.pptx